Peel the onions and garlic and cut into cubes. Heat 1 tablespoon of lard in a large saucepan and sauté both until translucent.
Rinse the beef, pat dry, roughly dice and fry in portions in a pan with the remaining lard.
Put the meat cubes in the large saucepan and dust everything with paprika powder. Season with salt, pepper and caraway seeds. Stir in tomato paste and add meat stock. Cover everything and let it simmer over a low heat for 1 hour.
Clean the peppers, cut into strips and then add. Cook for another 30 minutes. Serve hot.